🔴 Fabrinet is trading 10.1% down today following Broadcom earnings and a broader AI-chip selloff

Fabrinet is trading 10.1% down at $642.45 following a sharp selloff in high-valuation AI and semiconductor names triggered by Broadcom’s disappointing post-earnings reaction and guidance-related profit taking.

• The drop aligns with a broader risk-off move hitting growth stocks, as the Nasdaq Composite falls over 3%.
• Strong U.S. jobs data has fueled expectations for higher-for-longer interest rates, pressuring richly valued tech hardware suppliers.